Author: Jack Oduor

Finance Bill 2024 Proposals seek to introduce a 25 per cent excise duty on vegetable oils, which KAM says will drive upwards the cost of cooking oil. The proposed finance law aims to expand Kenya’s tax base by bringing more economic activities into the tax net. This, according to KAM, will lower the cost of living for Kenyans and create prosperity for the country. The Kenya Association of Manufacturers (KAM) has raised concerns over the state’s proposal to increase the Import Declaration Fund (IDF) from 2.5 per cent to 3 per cent. In a raft of proposals to the government,…

2024 Economic Survey says employment in the modern and informal sectors, excluding small-scale farming and pastoralist activities, went up from 19.1 million in 2022 to 20 million in 2023. The nominal wage bill rose by 7.3 per cent to Sh2.8.6 trillion in 2023. According to the 2024 Economic Survey, Real annual average earnings per employee in the private sector declined by 2.5 per cent At least 848,200 new jobs were generated in Kenya last year despite a tough economy that saw firms resort to retrenchment to cut operating costs. The Kenya Economic Survey 2024 released today by the Kenya National Bureau…

The Communications Authority of Kenya has finalised Phase I of the cellular mobile infrastructure project which connected 76 sub-locations. The authority also targets the expansion of the postal services and digitally empowering the youth. The Authority finalised the rollout of Internet connectivity in 886 public secondary schools spread across 47 counties. The Communications Authority of Kenya will need at least Sh107 billion ($819.9 million) to protect consumers and foster competitive ICT markets in a bid to establish Kenya as a digital superhighway. While unveiling its five-year strategic for 2023-27, CA Director-General David Mugonyi said the authority would prioritise increased broadband penetration,…

Sustainable Trade in Tanzania seeks to integrate the strengths of private sectors and civil society organisations to promote green growth. The plan seeks to grow trade practices that are both inclusive and environmentally sustainable. The project seeks to improve trade resilience to climate change by advocating for sustainable trade practices. The Foundation for Civil Society (FCS) and TradeMark Africa have sealed a grant agreement to launch a $ 900,000 Private Sector and CSOs project to drive sustainable Sustainable Trade in Tanzania and inclusive business practices, addressing the significant systemic challenges in Tanzania’s trade sector. Funded by the Foreign, Commonwealth &…

Estimates show that family planning in Kenya prevented 2.4 million pregnancies in 2023. The 2023 report shows significant achievements in family planning across the globe, even in the face of stagnant funding. The contraceptives were procured by UNFPA with more than KES57 Million (£348,000) funding from the UK. Efforts to make family planning more accessible to women in Kenya received a boost with the handover of 450,000 doses of Subcutaneous Depot Medroxyprogesterone Acetate (DMPA-SC), a self-injectable contraceptive that simplifies and enhances the accessibility of family planning. The contraceptives were procured by the United Nations Population Fund (UNFPA) with more than…

Kenyan home buyers are looking for cheaper houses despite an overall drop in real estate property prices In addition, there was a slight activity increase in the high-market section, to account for 17 per cent in quarter four from 15.2 per cent in the third quarter. These variations underscore the segmented nature of the housing market, influenced by both region and house type. Kenyan home buyers sought cheaper houses despite an overall drop in real estate property prices throughout last the year, according to a new report. The latest Kenya Bankers Association (KBA) Housing Price Index shows that the low…

Kenya’s Green Jobs Potential will be key in  preserving the country’s natural heritage and combating the challenges posed by climate change. PS Labour and Skills Development Shadrack Mwadime warned that the transition to green economy has far reaching implications for the world of work Green jobs are becoming a crucial driver of sustainable development in Kenya, Stakeholders in the environment conservation sectors are deliberating on ways to unlock Kenya’s potential as a global hub for digital work and green jobs. The government, jointly with Jacob’s Ladder Africa, International Labour Organisation, United Nations Environment Programme and United Nations Children’s Fund, are in…

Kenya Apparel Exports currently stand at about Sh51 billion, according to a Kenya Association of Manufacturers (KAM) report. Kenya is one of the global suppliers of big fashion brands in America, such as H&M, Levi’s, JCPenny, and Wrangler. Youngone intends to start a vertically integrated manufacturing factory, from knitting to dyeing to manufacturing of garments. Top Global apparel and footwear manufacturer Youngone will set up a factory in Kenya at the Athi River Export Processing Zone (EPZ), Cabinet Secretary for Trade and Industrialization Rebecca Miano has revealed. The CS said the Export Processing Zones Authority (EPZA) had received a Manufacturing…

It is estimated that inaction on SDGs will cost the global economy an extra $38 trillion Currently, the SDG financing gap is at approximately $11–15 trillion per year By the end of 2050-2060, there will  be over 1 billion climate refugees globally Inaction in advancing the implementation of the Sustainable Development Goals (SDGs) could cost the global economy an extra $38 trillion per year by 2050 at the current rate of progress. This is according to renowned business leader, campaigner, and author Paul Polman, who has called on the Kenyan private sector to raise the level of ambition in advancing…

Pullman Hotel Nairobi will begin operations in June 2024 Kenya has 31 hotels with a total of 4,268 rooms in the pipeline with an average room size of approximately 138 square feet. Pullman Hotel Nairobi Upper Hill has similarly adopted the concept of “workspitality” under the co-working spaces brand WOJO. French multinational hospitality group, Accor will unveil its first premium Pullman branded hotel in Kenya next month. This will add to Accor’s offering in the Kenyan market, which includes Fairmont the Nofolk and Mövenpick Hotel & Residences in Nairobi among others. According to Pullman Hotels & Resorts Director of Sales…